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JOINING CUSTOMS UNION WILL PROVIDE ARMENIA WITH ADD'L GDP GROWTH OF 4%-4.5% - EDB EXPERT
Interfax, Russia
September 25, 2013 Wednesday 4:37 PM MSK
YEREVAN. Sept 25
Armenia's membership in the Customs Union would, according to the
initial calculations, provide the republic with additional GDP growth
of 4% to 4.5% over the next two years, the director of the Eurasian
Development Bank's (EDB) Center for Integrated Research, Yevgeny
Vinokurov, said during a video bridge between Moscow and Yerevan on
the subject of 'Eurasian project for Armenia: economic advantages
and public dialog.'
If Armenia does join the Customs Union, Russia will zero out the gas
export duty for the republic, which will generate an economic effect
of about $140 million. Duties will be cancelled for other goods, too,
including for uncut Russian diamonds.
Vinokurov said that Customs Union membership for Armenia will create
more favorable conditions for Armenian migrant workers in Russia,
since quotas and licenses would be done away with. He said that of
$1.7 billion in non-commercial cash transfers to Armenia in 2012,
upwards of 85% were made from Russia, representing about 15% of GDP.
During a meeting with Russian President Vladimir Putin in Moscow on
September 3, Armenian President Serzh Sargsyan announced his country's
intention to join the Customs Union and to take the necessary steps in
that direction, and subsequently to take part in the union's formation.
Cf of
Interfax, Russia
September 25, 2013 Wednesday 4:37 PM MSK
YEREVAN. Sept 25
Armenia's membership in the Customs Union would, according to the
initial calculations, provide the republic with additional GDP growth
of 4% to 4.5% over the next two years, the director of the Eurasian
Development Bank's (EDB) Center for Integrated Research, Yevgeny
Vinokurov, said during a video bridge between Moscow and Yerevan on
the subject of 'Eurasian project for Armenia: economic advantages
and public dialog.'
If Armenia does join the Customs Union, Russia will zero out the gas
export duty for the republic, which will generate an economic effect
of about $140 million. Duties will be cancelled for other goods, too,
including for uncut Russian diamonds.
Vinokurov said that Customs Union membership for Armenia will create
more favorable conditions for Armenian migrant workers in Russia,
since quotas and licenses would be done away with. He said that of
$1.7 billion in non-commercial cash transfers to Armenia in 2012,
upwards of 85% were made from Russia, representing about 15% of GDP.
During a meeting with Russian President Vladimir Putin in Moscow on
September 3, Armenian President Serzh Sargsyan announced his country's
intention to join the Customs Union and to take the necessary steps in
that direction, and subsequently to take part in the union's formation.
Cf of